Money managers from Apollo to BlackRock are scrambling to capitalize on investors'' demand for private markets. Here are 16 people leading that push.
Summary List Placement Investors are flocking to the growing, often opaque world of private markets. Asset managers, under pressure to find new revenue sources and tap into flashy companies staying private for longer, are sprinting to help them get there. Firms are increasingly focused on getting their alternative investments, namely private equity and credit, out to wealth-management firms, financial advisors, and their clients. "As efforts to serve the retail base pick up, we anticipate that there will be a race among asset managers to solidify manufacturing and distribution capabilities in the private markets," partners at Boston Consulting Group said in a report last week. It''s no wonder. Private-markets investment strategies are the fastest growing of any revenue segment in the industry, projected to generate 32% of global industry revenue by the end of 2024, up from 28% at the end of 2019, indicated data released last month from Deloitte''s Casey Quirk unit. They generally cost clients more in management fees than traditional products tracking public equity and debt markets, and in some cases alternative investments generate higher returns.
Money managers from Apollo to BlackRock are scrambling to capitalize on investors'' demand for private markets. Here are 16 people leading that push.
Summary List Placement Investors are flocking to the growing, often opaque world of private markets. Asset managers, under pressure to find new revenue sources and tap into flashy companies staying private for longer, are sprinting to help them get there. Firms are increasingly focused on getting their alternative investments, namely private equity and credit, out to wealth-management firms, financial advisors, and their clients. "As efforts to serve the retail base pick up, we anticipate that there will be a race among asset managers to solidify manufacturing and distribution capabilities in the private markets," partners at Boston Consulting Group said in a report last week. It''s no wonder. Private-markets investment strategies are the fastest growing of any revenue segment in the industry, projected to generate 32% of global industry revenue by the end of 2024, up from 28% at the end of 2019, indicated data released last month from Deloitte''s Casey Quirk unit. They generally cost clients more in management fees than traditional products tracking public equity and debt markets, and in some cases alternative investments generate higher returns.